Should You Become a Real Estate Agent in Boston?
With interest rates rising and the nation’s housing market on the ropes, you may be wondering if it’s still a good idea to pursue a real estate career in Boston. While the short-term market outlook may not look too promising, there are still plenty of good reasons to start a rewarding career in real estate. Here are a few reasons why:
1. Boston’s Economy Is Still Growing
Boston has emerged as one of the biotech capitals of the world over the past decade. Boston-based startups have consistently increased the total amount of VC funding raised over the past 5 years, and Boston has solidified itself as the 3rd largest metro in the US by total VC funding raised.
Postpartum Health Tips for New Moms
The postpartum period can be challenging for new moms. Between the shifts in hormone levels, vaginal bleeding, and the newness of caring for your newborn, it can be overwhelming. Don’t neglect your own health and wellbeing. It’s so important that you prioritize your health as a new mom. Here are 6 postpartum health tips that will get your new journey off on the right foot.
1. Schedule Your Postpartum Checkup
One of your first priorities after giving birth is to schedule your postpartum health checkups with your OB/GYN or other obstetric care provider. The American College of Obstetricians and Gynecologists (ACOG) recommends that new moms schedule an initial health assessment within the first 3 weeks of delivery. They also recommend a more comprehensive postpartum followup within the first 12 weeks to assess physical, social, and psychological well-being. During this detailed assessment, you can address any medical concerns that you may be experiencing regarding your own health, sexuality, diet, exercise, emotional well-being, infant care and/or feeding.
Lowest September Vacancy Rates on Record in Boston Following 9/1 Leasing Rush
Boston’s apartment rental market looks much different this September than it has in recent years. Following a rental season where the city recorded some of the lowest supply figures on record, Boston’s vacancy rate currently sits at .46%, a record low for September. That figure is down -76.65% year-over-year and only marks a +64% increase since last month.
Typically on 9/1 in Boston, the vacancy rate surges as previous tenants vacate their leases. Nearly half of leases for Boston apartments begin on 9/1 due to the unusually large student population. In 2019 and 2020, the monthly-over-month vacancy rates jumped by +298.25% and +329.85% respectively in the first week of September, which was considered normal.
Now in the last two years, Boston’s vacancy rate went up by much lower margins. Last September, the month-over-month vacancy rate jumped by a much smaller +55.97%. In the first week of this month, that month-over-month increase was even smaller at +47.06%. Last year could easily be attributed to the fact that Boston’s rental market was recovering from the rental supply calamity of the pandemic. But this year’s smaller vacancy jump may prove that this trend is here to stay.
2022 Dorchester Apartment Rental Market Report
The apartment rental market in Dorchester, MA has never looked more expensive for renters in what has historically been one of Boston’s more affordable neighborhoods. In March of this year, Dorchester’s average rent price hit $2,253, surpassing its previous record high set in June of 2020 ($2,229). Since July, that average rent price has continued to climb to new all-time highs weekly amid record low apartment availability. It now sits at $2,370, a +9.74% increase year-over-year. Let’s look at the main trends driving Dorchester’s apartment rental market in 2022.
Most Affordable Neighborhoods To Rent an Apartment In Boston
Boston’s average rent price has been rapidly rising in 2022 after 2 years of stagnation during COVID. The current average rent price for Boston apartments ($2,722) is up +8.23% year-over-year and as of April, that figure has surpassed its previous all-time high of $2,646 set in June 2020. Now the city of Boston is among the most expensive places to rent an apartment in the US.
If you’re a renter on a budget in Boston, these numbers can be intimidating. Luckily, we combed through tons of apartment data to find the most affordable neighborhoods to rent an apartment near Boston. Here’s the list!
Boston Pads Real Estate Database Surpasses 17,000 Landlord Records In Latest Company Milestone
BOSTON, MA, USA, September 7, 2022 /EINPresswire.com/ — BostonPads.com reached another growth landmark earlier this month by surpassing 17,000 landlord records in their Greater Boston apartment database. Their rental repository now holds 199,072 Greater Boston apartments, 448 luxury apartment buildings, 23,795 apartment videos, and more than 1.01 million property images.
This achievement comes as Boston’s rental market reaches its annual 9/1 peak and apartment availability sits at an all-time low. Both the city’s real-time vacancy rate (RTVR) and real-time availability rate (RTAR) have notched new record lows in 2022. Compared to a year ago these figures are down -77.36% and -76.47% respectively, showing just how drastic the rental market’s recovery has been.
Are Real Estate Prices Going To Drop in Boston?
Boston’s real estate market has achieved record breaking growth over the past decade. Thanks to a shortage of for-sale properties and a growing population, Boston real estate prices have more than doubled since 2011. Now, with a recession looming and interest rates on the rise, many are predicting that Boston real estate prices will begin to decline soon.
Based on the most recent MLS data, it does appear that real estate prices will soon begin to decline in Boston. Here are the reasons why:
Most Affordable Neighborhoods to Buy Real Estate in Boston
Prices for Boston real estate are still on the rise in 2022 despite a drop in property sales city-wide. The current median sale price for single-family homes in Boston is $816,353, a +7.31% increase compared to last September. Similarly the 1-year median sale price for Boston condos is $730,242, up 7.39% over the same time span.
With prices like that, new home buyers may feel like they’re priced out of the market. However, there are still plenty of neighborhoods in Boston where you can find a home under $600K. We analyzed the last 12 months of MLS data of the 33 closest neighborhoods near Boston’s core to find the most affordable places to buy real estate in Boston. Here’s the list:
Top 5 Priciest Neighborhoods in Boston
Whether you buy a property or rent an apartment, the cost of living in Boston is high. Over the past decade, Boston has climbed up the list of the most expensive cities to live in the US. This trend has been fueled by steady population growth and a shortage of housing inventory, which has sent Boston’s average rent and home prices through the roof.
Now, Boston’s average rent price is nearly as expensive as New York City or Silicon Valley. If you’re wondering where Boston’s most expensive places to live are, you came to the right place. This article will rank the top 5 most expensive neighborhoods in Boston to both rent an apartment and purchase real estate.
Is Boston good for real estate?
The city of Boston has experienced record housing market growth over the past decade. Median sale prices have soared on account of a tight supply of for-sale properties and growing demand. In 2011, the median sale price for a single-family home in Boston was $375,000. Just 11 years later, that figure has more than doubled to $812,000. With such rapid price growth, you may be wondering if Boston is still a good place to purchase a home that will appreciate in value long-term?
Boston is still a good place to buy real estate because the city’s long-term economic outlook is positive. Despite the current economic slump we’re experiencing, there are many reasons to believe that they are only temporary and Boston’s housing market will recover. Here are a few reasons why:
